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Monday, May 23, 2011

Real Estate News May 19

National delinquency, foreclosure rates on the mend: MBAMortgage delinquencies in the first quarter were down 174 basis points when compared to a year earlier, the Mortgage Bankers Association said Thursday, although the percentage of U.S. mortgages in delinquency increased to a rate of 8.32% on a seasonally adjusted basis at March 31, up 7 bps from the end of 2010.

Hit by declining salaries, nest eggs that went bust and layoffs, Coloradans have increasingly had to move in with their extended families — much like other periods of economic turmoil.U.S. census figures made public today show that in the past 10 years in Colorado, households with "other relatives" living there have increased 35.7 percent. The increase in households with other relatives under 18 was even larger, 41.4 percent.

Mexican population continues growth in Colo.DENVER -- Residents of Mexican descent are becoming a larger part of Colorado's booming Hispanic population and their numbers are increasing where the state is seeing some of its biggest growth, including the Western Slope, according to census data released Thursday.

Hispanics of any race account for about one-fifth of the state's total population of about 5 million, the Census Bureau said in February. But the new data shows that nearly three in four Hispanics in Colorado have Mexican heritage.

Colorado households getting older and smaller, says new Census reportColoradans on average are older, their households have fewer people, and their homes are slightly more likely to be rented than a decade ago, according to new data from the 2010 Census.The national headcount, conducted every 10 years, shows the median age of Coloradans was 36.1 years old in 2010, up from 34.3 in 2000.

Koelbel listing Parker projectKoelbel and Co., one of Denver’s oldest family owned real estate companies, is listing a long-stalled condominium project in Parker that was recently purchased by a California company that specializes in buying distressed properties.

Koelbel & Co. is marketing the 20-unit Hunter’s Chase condominium project that has been purchased by San Diego-based Pathfinders Partners LLC. The project had been bank-owned for a number of years until Pathfinder Partners purchased it in late April, said Lorne Polger, senior managing director of the company, which specializes in making opportunistic investments in distressed real estate assets and defaulted loans. Records indicate Pathfinders paid $1.15 million for the units.